A life insurance policy is a legal agreement between an insured and an insurance company. According to that a fixed amount of money is paid to the insured or the beneficiaries at the end of its term or upon the death of the insured.

In India, under Section 88 of the Income Tax Act, tax rebate is provided to premiums paid to keep in force an insurance policy. You can also get deduction under Section 80CCC of the Income Tax Act for the contribution towards pension funds.

Besides making payment after the loss or life or maturity of the insurance term, insurance policies also offer investment benefits. With a life insurance policy, you can save for your old age, fund your child's education, save taxes and so on. Most life insurance policies also provide tax...

Nomination is the right bestowed on the policyholder to appoint a person or persons to receive the policy money in the event of his death. The person or persons named in the above process are called nominees. You can nominate any of your close relatives in your insurance policy.

If you pay premiums for a specified period of time, your policy acquires surrender value. If after that you find it difficult to continue with the policy, you can surrender it for a cash sum. For this, you need to make a surrender request with your insurance company.

The claims are serviced at both - list of hospitals in the Insurance Policy (network) and any other Hospital (non-network hospitals).
Network Hospitals: These are the hospitals that form part of the company's network. Cashless claims are possible for with Network Hospitals. For a complete list...

Do declare your pre-existing disease as the premium you pay for your policy is useless if you misrepresent your case, and the insurance company can deny your claim. Travel insurance policies cover pre-existing conditions in case of life-threatening situations only. You must get a travel Insurance...